FINANCIAL STATEMENTS Consolidated financial statements as of December 31, 2017 3 11.8 List of consolidated entities List of consolidated companies % of interest % of control Full consolidated companies Country 12/31/2017 12/31/2016 Change 12/31/2017 12/31/2016 Change HOLDING – HEAD OF THE GROUP Klépierre SA France 100.00% 100.00% - 100.00% 100.00% - SHOPPING CENTERS – FRANCE KLE 1 SAS France 100.00% 100.00% - 100.00% 100.00% - SCOO SC France 53.64% 53.64% - 53.64% 53.64% - Klécar France SNC France 83.00% 83.00% - 83.00% 83.00% - KC3 SNC France 83.00% 83.00% - 100.00% 100.00% - KC4 SNC France 83.00% 83.00% - 100.00% 100.00% - KC5 SNC France 83.00% 83.00% - 100.00% 100.00% - KC9 SNC France 83.00% 83.00% - 100.00% 100.00% - KC10 SNC France 83.00% 83.00% - 100.00% 100.00% - KC11 SNC France 83.00% 83.00% - 100.00% 100.00% - KC12 SNC France 83.00% 83.00% - 100.00% 100.00% - KC20 SNC France 83.00% 83.00% - 100.00% 100.00% - LP7 SAS France 100.00% 100.00% - 100.00% 100.00% - Klécar Europe Sud SCS France 83.00% 83.00% - 83.00% 83.00% - Solorec SC France 80.00% 80.00% - 80.00% 80.00% - Centre Bourse SNC France 100.00% 100.00% - 100.00% 100.00% - Bègles Arcins SCS France 52.00% 52.00% - 52.00% 52.00% - Bègles Papin SNC France 100.00% 100.00% - 100.00% 100.00% - Sécovalde SCI France 55.00% 55.00% - 55.00% 55.00% - Cécoville SAS France 100.00% 100.00% - 100.00% 100.00% - Soaval SCS France 100.00% 100.00% - 100.00% 100.00% - Klémurs SCA France 100.00% 100.00% - 100.00% 100.00% - Nancy Bonsecours SCI France 100.00% 100.00% - 100.00% 100.00% - Sodevac SNC France 100.00% 100.00% - 100.00% 100.00% - Odysseum Place de France SNC France 100.00% 100.00% - 100.00% 100.00% - Klécar Participations Italie SAS France 83.00% 83.00% - 83.00% 83.00% - Pasteur SNC France 100.00% 100.00% - 100.00% 100.00% - Holding Gondomar 1 SAS France 100.00% 100.00% - 100.00% 100.00% - Holding Gondomar 3 SAS France 100.00% 100.00% - 100.00% 100.00% - Combault SNC France 100.00% 100.00% - 100.00% 100.00% - Beau Sevran Invest SCI France 83.00% 83.00% - 100.00% 100.00% - Valdebac SCI France 55.00% 55.00% - 55.00% 55.00% - Progest SAS France 100.00% 100.00% - 100.00% 100.00% - Belvedere Invest SARL France 55.00% 55.00% - 55.00% 55.00% - Haies Haute Pommeraie SCI France 53.00% 53.00% - 53.00% 53.00% - Plateau des Haies SNC France 100.00% 100.00% - 100.00% 100.00% - Forving SARL France 93.15% 93.15% - 93.15% 93.15% - Saint Maximin Construction SCI France 55.00% 55.00% - 55.00% 55.00% - Pommeraie Parc SCI France 60.00% 60.00% - 60.00% 60.00% - Champs des Haies SCI France 60.00% 60.00% - 60.00% 60.00% - La Rive SCI France 85.00% 85.00% - 85.00% 85.00% - Rebecca SCI France 70.00% 70.00% - 70.00% 70.00% - Le Mais SCI France 80.00% 80.00% - 80.00% 80.00% - Le Grand Pré SCI France 60.00% 60.00% - 60.00% 60.00% - LC SCI France 88.00% 88.00% - 100.00% 100.00% - Kle Projet 1 SAS France 100.00% 100.00% - 100.00% 100.00% - Klépierre Créteil SCI France 100.00% 100.00% - 100.00% 100.00% - Albert 31 SCI France 83.00% 83.00% - 100.00% 100.00% - Galeries Drancéennes SNC France 100.00% 100.00% - 100.00% 100.00% - Portes de Claye SCI France 55.00% 55.00% - 55.00% 55.00% - Klecab SCI France 100.00% 100.00% - 100.00% 100.00% - Kleber Odysseum SCI France 100.00% 100.00% - 100.00% 100.00% - Klé Arcades SCI France 53.69% 53.69% - 100.00% 100.00% - Le Havre Colbert SNC France 100.00% 100.00% - 100.00% 100.00% - Klépierre Massalia SAS France 100.00% 100.00% - 100.00% 100.00% - Massalia Shopping Mall SCI France 60.00% 60.00% - 100.00% 100.00% - Massalia Invest SCI France 60.00% 60.00% - 60.00% 60.00% - Kle Start SAS France 100.00% 0.00% 100.00% 100.00% 0.00% 100.00% KLÉPIERRE 2017 REGISTRATION DOCUMENT 123